latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Bitcoin Price Likely Bottomed at $7,700 , Will Resume Uptrend: Indicators

Since Bitcoin’s bulls were sidelined in late-June, cryptocurrency investors have been wondering at which point will the pain stop, at which point will BTC resume its uptrend to potentially new all-time highs.
For months, nobody had an answer. Bitcoin fell through $13,000, then $10,000, then $8,000 most recently. And still, some are calling for another 25% drop to $6,000, which is where a number of traders believe the cryptocurrency market will find an ultimate bottom before a multi-year bull market.
Related Reading:  Crypto Tidbits: Fidelity Expands Bitcoin Ops, Ripple’s XRP Sales Fall, Grayscale Sees Growing Altcoin Demand
But, there is growing evidence suggesting that the leading cryptocurrency will soon reverse to the upside.
Bitcoin Indicators Imply Impending Bottom
Mohit Sorout, a partner at Bitazu Capital, noted that a number of Bitcoin indicators are reaching an inflection point, which he believes is where BTC’s price will finally bounce. “[The] Relative Strength Index, positive Directional Indicator, and negative Directional Indicator all have to reset to an important horizontal level,” he argued before adding that “such levels have only one job: to turn the BTC price around.”
As implied by the chart that can be seen above, Bitcoin is likely to fall a bit lower to bottom (potentially to retest lows at $7,700), then begin a fresh bull trend, thus reversing the negative trend accentuated by the indicators.

RSI, +DI & -DI all have reset to an important horizontal level.
Such levels have only one job & that is to turn the $BTC price around.
— Mohit Sorout 
/*  */
	border:1px solid #ccc;
/*  */
<script src= shares this Contents always with License.

Thank you for Share!


Search Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


24h Most Popular News

Buy Bitcoin online in ANY country, supporting 80+ Payment methods!